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President Biden has declared his support for banning sitting members of Congress from trading stock — an eleventh-hour pivot after four years of silence over the controversy.

Nobody in the Congress should be able to make money in the stock market while theyre in the Congress, Biden told the “More Perfect Union” podcast.

“I don’t know how you look your constituents in the eye and know because of the job they gave you, gave you an inside track to make more money,” Biden said, adding: “I think we should be changing the law.”

The interview was conducted by Faiz Shakir, a political adviser for Sen. Bernie Sanders (I-Vt.), and published by A More Perfect Union, a pro-labor advocacy and journalism organization.

Its unclear what impact Bidens statement could have, coming only a month before his term ends.

Biden had previously declined to take a position on congressional stock trading.

His fellow Democrat, former House Speaker Nancy Pelosi, initially opposed proposals that lawmakers and their spouses be banned from trading stocks.

Pelosi, who is married to venture capitalist Paul Pelosi, insisted that her husband makes stock trades independently and that she has no involvement. She said in December 2021 that there is a free market that members of Congress should be able to participate in.

Speculation about Pelosi’s future in Congress has ramped up in recent days after the 84-year-old congresswoman from San Francisco underwent hip replacement surgery in Europe earlier this week.

Pelosi suffered a fall while on a trip to Luxembourg over the weekend, breaking her hip.

Financial disclosure forms showed that Paul Pelosi, who is said to be worth in excess of $275 million, sold 2,000 shares of Visa stock worth between $500,000 and $1 million on July 1. In September, the Justice Department announced it was suing Visa for alleged antitrust violations.

Since 2021, Pelosi has softened her stance amid backlash, coming out in support of strengthening an existing law, the Stock Act, which requires lawmakers to disclose their stock sales and purchases.

She has also called for extending stock trading disclosure requirements to members of the judiciary, while stiffening penalties for members of Congress who flout the rules.

Relations between Biden and Pelosi, who were once close, are said to have been ruptured after the former speaker played a key role in nudging the president from the race earlier this year due to concerns over his age and mental acuity.

Pelosi told news outlets that she intended for the Democrats to stage a quick primary process following Biden’s decision to step aside, but his swift endorsement of Vice President Kamala Harris frustrated those plans.

Biden’s support for a ban marks somewhat of a pivot for the president, who has been largely noncommittal on the issue.

When Jen Psaki served as White House press secretary two years ago, she said Biden would let members of leadership in Congress and members of Congress determine what the rules should be.

A bipartisan proposal to ban trading by members of Congress and their families has dozens of sponsors, but it has not received a vote.

Although lawmakers are required to disclose stock transactions exceeding $1,000, theyre routinely late in filing notices and sometimes dont file them at all.

Shakir said he admired Biden for having not gone in early on Google, and Boeing, and Microsoft, and Nvidia, and, you know, Amazon while he was a US senator from Delaware, a position he held for 36 years.

Biden said he lived on his Senate salary instead of playing the stock market.

Trading in Congress has long been criticized by government watchdogs, who say the access to nonpublic information creates a temptation for lawmakers to prioritize their own finances over the public good.

Public anger has mounted since the start of the coronavirus pandemic, when some lawmakers were caught buying and selling millions of dollars worth of stock after being warned about the coming disruption from the virus.

With Post wires

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Politics

Compensation scheme for infected blood scandal widened

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Compensation scheme for infected blood scandal widened

More victims of the infected blood scandal will qualify for compensation while others will get higher awards under changes to the scheme.

The new rules mean estates of affected people who have already died will be able to claim payments.

As well as this, around 1,000 people who are already eligible will be able to claim a higher amount, including chronic Hepatitis C individuals.

Politics latest: Starmer explains how he plans to make people ‘better off’

The reforms are being introduced following 16 recommendations from the Infected Blood Inquiry, which published an additional report earlier this month.

Confirming the changes, minister for the Cabinet Office Nick Thomas-Symonds said the government has “concentrated on removing barriers to quicker compensation”.

More on Infected Blood Inquiry

He added: “Our focus as we move forward must be working together to not only deliver justice to all those impacted, but also to restore trust in the state to people who have been let down too many times.”

Between the 1970s and early 1990s, more than 30,000 people in the UK were infected with HIV and hepatitis C while receiving NHS care.

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Infected blood scandal explained

Some 3,000 people have died after they were given contaminated blood and blood products, while survivors live with lifelong implications.

In last October’s Budget, Chancellor Rachel Reeves committed £11.8bn to compensate victims of the infected blood scandal, with the scheme opening at the end of last year.

The changes will ensure that those who endured treatments with adverse side effects, such as interferon, will receive higher compensation to what is currently provided.

Extraordinary intervention forces govt to act

The government will now hope its response to Sir Brian Langstaff’s criticism will be enough to convince the Infected Blood chair – and more importantly those infected and affected by this scandal – is listening and acting with urgency.

The long-awaited report was published in May 2024. It was an afternoon charged with raw emotion. After decades of being lied to, ignored and gaslit, finally the infected blood community had found its champion. Someone who understood their pain and suffering.

Sir Brian called on the government to deliver compensation quickly, knowing that many were dying before seeing justice delivered.

But Sir Brian was not himself convinced. Even after the publication of the report he kept the Inquiry open.

This is unprecedented. It showed that he feared there would be more stalling and further delays to payments. He was, sadly, proved right.

It took an extraordinary intervention from Sir Brian last month to push the government to respond. It says it will implement all of the Inquiry’s latest recommendations, some immediately and the rest after further consultation with the community.

More people will now qualify for payment and others will get more compensation.

And importantly the claims of victims will not die with them but instead can now be passed on to surviving family members. All hugely important revisions.

The government says it understands the urgency. But it will also know it should not have taken an unprecedented intervention to force the issue.

Higher compensation will also be available for the impacts currently recognised by the Infected Blood Support Scheme ‘Special Category Mechanism’ (SCM), which is provided to chronic Hepatitis C individuals who have experienced a significant impact on their ability to carry out daily duties.

The government said the changes mean that over a thousand people will receive a higher amount than they would have under the existing scheme.

Scheme widened to estates of deceased affected people

The scheme will also be widened to some people who don’t currently qualify.

Under the current mechanism, if someone who was infected dies before receiving full compensation, then any final award can be passed on to their relatives through their estate.

However while compensation is also available to family members affected by the scandal – a partner, sibling or parent of someone who was infected, for example, this claim dies with them if they pass away.

The changes announced today mean that if the affected person has died after May 21st 2024, or dies in future before receiving compensation, their estate will be able to make a claim.

Memorial plans announced

The government also announced that Clive Smith, president of the Haemophilia Society, will be the chair of the new Infected Blood Memorial Committee.

The project will include plans for a UK memorial and support memorials in Scotland, Wales and Northern Ireland.

In line with the Infected Blood Inquiry’s recommendation, the committee will also develop plans for commemorative events and is planning to hold the first by the end of 2025.

Mr Smith said the memorial is “long overdue”.

He added: “It is a great privilege to be asked to lead this important work on behalf of the community.

“I am conscious that we are already behind in relation to implementing the Infected Blood Inquiry’s recommendation that community events be held on a six-month basis post the Inquiry reporting. We intend to correct that by the end of this year.

“I look forward to working with the whole community across the UK on building an appropriate memorial to those we have lost and to act as a lasting memorial to the nation of what can happen when patient safety is not prioritised.”

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World

Gaza food situation ‘worst it’s ever been’, charity says – as UK promises £40m in aid

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Gaza food situation 'worst it's ever been', charity says – as UK promises £40m in aid

An aid worker in the central Gaza Strip has told Sky News the food situation in the enclave is “absolutely desperate” and “the worst it’s ever been”.

Her comments to Sky’s chief presenter Mark Austin come amid fresh international outcry over Israel’s restrictions on aid, as the UK has joined together with 24 other countries to say: “The war in Gaza must end now.”

Rachael Cummings, humanitarian director for Save The Children, is in Deir al Balah, a city in central Gaza where tens of thousands of people have sought refuge during repeated waves of mass displacement.

Middle East latest: Key points from UK statement on Gaza

She said: “One of my colleagues said to me yesterday, ‘We are all walking together towards death’. And this is the situation now for people in Gaza.

“There is no food for their children, it’s absolutely desperate here.”

More on Gaza

Palestinians gather to receive food from a charity kitchen, amid a hunger crisis, in Nuseirat, central Gaza Strip, July 20, 2025. REUTERS
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Palestinians gather to receive food from a charity kitchen. Pic: Reuters

“The markets are empty,” she said. “People may even have cash in their pockets yet they cannot buy bread [or] vegetables.

“My team have said to me, ‘There’s nothing in my house to feed my children, my children are crying all day, every day.”

Israel launched a ground assault on Deir al Balah on Monday morning, another charity said earlier.

Smoke rises during Israeli strikes amid the Israeli military operation in Deir Al-Balah.
Pic: Reuters
Image:
Smoke rises during strikes amid the Israeli operation in Deir al Balah. Pic: Reuters

Ms Cummings’s comments came as the UK and 24 other nations issued a joint statement calling for a ceasefire.

The statement criticised aid distribution in Gaza, which is being managed by a US and Israel-backed organisation, Gaza Health Foundation.

“The Israeli government’s aid delivery model is dangerous, fuels instability and deprives Gazans of human dignity,” it said.

The 25 countries also called for the “immediate and unconditional release” of hostages captured by Hamas during the 7 October 2023 attacks.

Lammy promises £40m for Gaza aid

Foreign Secretary David Lammy later promised £40m for humanitarian assistance in Gaza.

He told MPs: “We are leading diplomatic efforts to show that there must be a viable pathway to a Palestinian state involving the Palestinian Authority, not Hamas, in the security and governance of the area.

“Hamas can have no role in the governance of Gaza, nor use it as a launchpad for terrorism.”

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Lammy: ‘There must be a viable pathway to a Palestinian state’

Addressing the foreign secretaries’ joint written statement, charity worker Liz Allcock – who works for Medical Aid for Palestinians (MAP) in Gaza – told Sky News: “While we welcome this, there have been statements in the past 21 months and nothing has changed.

“In fact, things have only got worse. And every time we think it can’t get worse, it does.”

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“Without a reversal of the siege, the lack of supplies, the constant bombardment, the forced displacement, the killing, the militarisation of aid, we are going to collapse as a humanitarian response,” she said.

“And this would do a grave injustice to the 2.2 million people we’re trying to serve.

“An immediate and permanent ceasefire, and avenues for accountability in line with international law, is the minimum people here deserve.”

The war in Gaza started in response to Hamas’s attack on Israel on 7 October 2023, which killed 1,200 people and saw about 250 taken hostage.

More than 59,000 Palestinians have since been killed, with more than half being women and children, according to Gaza’s health ministry, which does not distinguish between civilians and combatants in its count.

In recent weeks hundreds of Palestinians have reportedly been killed while waiting for food and aid.

The Israeli military has blamed Hamas militants for fomenting chaos and endangering civilians.

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Technology

YouTube wipes out thousands of propaganda channels linked to China, Russia, others

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YouTube wipes out thousands of propaganda channels linked to China, Russia, others

Beata Zawrzel | Nurphoto | Getty Images

Google announced Monday the removal of nearly 11,000 YouTube channels and other accounts tied to state-linked propaganda campaigns from China, Russia and more in the second quarter.

The takedown included more than 7,700 YouTube channels linked to China.

These campaigns primarily shared content in Chinese and English that promoted the People’s Republic of China, supported President Xi Jinping and commented on U.S. foreign affairs.

Over 2,000 removed channels were linked to Russia. The content was in multiple languages that supported Russia and criticized Ukraine, NATO and the West.

Google, in May, removed 20 YouTube channels, 4 Ads accounts, and 1 Blogger blog linked to RT, the Russian state-controlled media outlet accused of paying prominent conservative influencers for social media content ahead of the 2024 election.

Tim Pool, Dave Rubin and Benny Johnson — all staunch supporters of President Donald Trump — made content for Tenent Media, the Tennessee company described in the indictment, according to NBC News.

Read more CNBC tech news

YouTube began blocking RT channels in March 2022, shortly after Russia invaded Ukraine.

The active removal of accounts is part of the Google Threat Analysis Group’s work to counter global disinformation campaigns and “coordinated influence” operations.

Google’s second quarter report also outlined the removal of influence campaigns linked to Azerbaijan, Iran, Turkey, Israel, Romania and Ghana that were found to be targeting political rivals.

Some campaigns centered on growing geopolitical conflicts, including narratives on both sides of the Israel-Palestine War.

CNBC has reached out to YouTube for further comment or information on the report.

Google took down more than 23,000 accounts in the first quarter.

Meta announced last week it removed about 10 million profiles for impersonating large content producers through the first half of 2025 as part of an effort by the company to combat “spammy content.”

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